Microsoft Co. (NASDAQ:MSFT) Position Reduced by Renaissance Investment Group LLC

Renaissance Investment Group LLC lessened its holdings in Microsoft Co. (NASDAQ:MSFT) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,932 shares of the software giant’s stock after selling 442 shares during the quarter. Microsoft accounts for 4.8% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 2nd biggest position. Renaissance Investment Group LLC’s holdings in Microsoft were worth $12,503,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. First Bank & Trust grew its holdings in Microsoft by 5.3% in the 3rd quarter. First Bank & Trust now owns 20,674 shares of the software giant’s stock worth $2,874,000 after acquiring an additional 1,034 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in Microsoft by 50.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,293,730 shares of the software giant’s stock worth $318,897,000 after acquiring an additional 772,347 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Microsoft by 1.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 316,517 shares of the software giant’s stock valued at $44,005,000 after purchasing an additional 3,582 shares in the last quarter. Winfield Associates Inc. boosted its stake in shares of Microsoft by 6.3% during the 3rd quarter. Winfield Associates Inc. now owns 63,439 shares of the software giant’s stock valued at $8,820,000 after purchasing an additional 3,735 shares in the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. boosted its stake in shares of Microsoft by 1.0% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 11,291 shares of the software giant’s stock valued at $1,570,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 72.17% of the company’s stock.

Shares of NASDAQ MSFT opened at $137.41 on Monday. Microsoft Co. has a 1 year low of $93.96 and a 1 year high of $142.37. The stock has a market cap of $1,057.42 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 2.26 and a beta of 1.22. The firm has a 50-day moving average of $138.14 and a 200 day moving average of $132.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 2.50.

Microsoft (NASDAQ:MSFT) last issued its quarterly earnings results on Thursday, July 18th. The software giant reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. Microsoft had a net margin of 31.18% and a return on equity of 39.26%. The company had revenue of $33.72 billion during the quarter, compared to analysts’ expectations of $32.80 billion. During the same period last year, the company posted $1.13 EPS. Microsoft’s revenue was up 12.1% on a year-over-year basis. Research analysts expect that Microsoft Co. will post 5.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Microsoft’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.48%. Microsoft’s payout ratio is 38.74%.

Microsoft declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 18th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the software giant to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley set a $155.00 target price on shares of Microsoft and gave the company a “buy” rating in a research note on Friday. Goldman Sachs Group set a $151.00 target price on shares of Microsoft and gave the company a “buy” rating in a research note on Friday, July 19th. Deutsche Bank set a $155.00 target price on shares of Microsoft and gave the company a “buy” rating in a research note on Wednesday, July 17th. Canaccord Genuity lifted their target price on shares of Microsoft from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Argus lifted their target price on shares of Microsoft to $158.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Microsoft currently has an average rating of “Buy” and an average price target of $153.20.

In other Microsoft news, insider Frank H. Brod sold 4,000 shares of Microsoft stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $141.05, for a total value of $564,200.00. Following the completion of the transaction, the insider now directly owns 64,152 shares of the company’s stock, valued at $9,048,639.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathleen T. Hogan sold 40,000 shares of Microsoft stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $135.25, for a total transaction of $5,410,000.00. Following the completion of the transaction, the executive vice president now directly owns 198,042 shares of the company’s stock, valued at $26,785,180.50. The disclosure for this sale can be found here. Insiders sold 318,757 shares of company stock valued at $43,735,918 over the last ninety days. Corporate insiders own 1.39% of the company’s stock.

About Microsoft

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises.

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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